RCom allots 6.46 lakh shares to FCCB holders

MUMBAI: Anil Ambani-led Reliance Communications on Thursday said it has allotted 6.46 lakh equity shares of Rs 5 each at a pre-determined premium of Rs 475.68 per equity share to Foreign Currency Convertible Bond (FCCBs) holders.

In a filing to the Bombay Stock Exchange on Thursday, the firm said the equity shares were allotted to holders of Zero Coupon FCCBs of 1,000 dollar each.

The allotted equity shares would rank 'pari passu' in all respects with the existing equity shares of the firm and shall be entitled for full dividend, if declared for the financial year 2007-08, the filing added.

As a result of the allotment, the firm's paid-up capital rose to 204.94 crore equity shares of Rs 5 each. Shares of the firm closed at Rs 750.40, up 0.33 per cent at the BSE.